Protection Reinsurance & Pricing Manager

Overview

For this 12 month Fixed Term Contract position as the Reinsurance & Pricing Manager
, you’ll drive the Group’s reinsurance strategy for life and protection products, ensuring optimal risk transfer and driving commercial value. This is more than an actuarial role – you’ll influence proposition design, collaborate with pricing and product teams, and shape innovative solutions that meet customer needs while managing risk effectively.

Job Title: Protection Reinsurance & Pricing Manager

Salary: £87,552pa to £107,000pa plus an extensive benefits package

Locations: Edinburgh, Leeds, Halifax, Bristol, Manchester, Chester

Hours: 35 hours, full time

Working Pattern: Hybrid working (spend at least two days per week, or 40% of time, at one of the hubs listed above)

Employer: Lloyds Banking Group

We’re on a mission to help Britain prosper. Our Insurance & Protection business plays a vital role in providing financial security for millions of customers. We’re transforming how we design and deliver protection propositions, and reinsurance is a key enabler of that journey.

• Shape and deliver the reinsurance strategy for life and protection propositions.
• Partner with product and pricing teams to embed reinsurance considerations into proposition design and development.
• Identify opportunities to innovate through reinsurance structures that enhance customer value and business performance.
• Act as the key liaison with reinsurers, building strong partnerships to secure competitive terms and foster collaboration.
• Drive negotiations on treaty renewals, pricing, and terms to ensure sustainable arrangements.
• Apply actuarial insight to assess risk, pricing, and financial impact of reinsurance structures.
• Analyse performance of reinsurance arrangements and provide actionable recommendations to senior stakeholders.
• Ensure all reinsurance arrangements comply with regulatory requirements and internal risk frameworks.
• Maintain robust documentation and reporting for governance and audit purposes.

Essential

• Proven experience in reinsurance relationship (or similar) management within life insurance or protection markets.
• Strong actuarial background with expertise in risk modelling and financial analysis.
• Ability to influence proposition design and collaborate across pricing, product, and commercial teams.
• Excellent negotiation and stakeholder management skills.

Desirable

• Knowledge of protection pricing and product development.
• Familiarity with UK regulatory environment and Solvency II requirements.
• Strong analytical and problem-solving skills with attention to detail.

Qualifications

• Qualified actuary (FIA or equivalent) preferred.
• Degree in Actuarial Science, Mathematics, Finance, or related discipline.

You’ll play a pivotal role in shaping the future of protection propositions at Lloyds Banking Group. We’ll support your development with flexible working, a collaborative culture, and a commitment to diversity and inclusion. Together, we’ll create solutions that help millions of customers feel financially secure.

Our focus is to ensure we are inclusive every day, building an organisation that reflects modern society and celebrates diversity in all its forms. We want our people to feel that they belong and can be their best, regardless of background, identity, or culture. We were one of the first major organisations to set goals on diversity in senior roles, create a menopause health package, and a dedicated Working with Cancer initiative.

We especially welcome applications from under-represented groups. We are disability confident. If you would like reasonable adjustments to be made to our recruitment processes, just let us know.

We keep your data safe. We’ll only ever ask you to provide confidential or sensitive information once you have formally been invited to interview or accepted a verbal offer to join us, at which point we run background checks and will explain what we need and why.

Data privacy and equal opportunity - We’re focused on creating a values-led culture and are committed to building a workforce which reflects the diversity of the customers and communities we serve. We’re building an inclusive workplace where all colleagues have the opportunity to make a real difference.